Tips for Successful Withdrawal Strategies in Retirement

A recent article discussed how market conditions in the first few years of retirement are extremely important in shaping whether the money you have worked hard to save is enough to last 30 years. A smart way to protect sustainable income in retirement is adjusting your spending habits to market activity, a tactic referred to as variable withdrawal strategies.

Sustainable income is crucial in retirement. Did you know that couples have a 43% chance that one of two spouses will live beyond 95? That means it is not enough to simply accumulate assets, but protect them though effective planning and smart spending throughout your retirement years.
Retirement can be broken down into three stages. The first stage is the “go-go” stage, where young retirees are busy traveling and maintaining their lifestyle. The second stage is a slowdown period where spending tappers off. Finally, there is the “no-go” stage, where elderly retirees are no longer spending as much. Why do these stages matter? Because retirees should be adjusting spending as they go, taking economic conditions and lifestyle needs into consideration so their nest egg lasts as long as their retirement.
Are you confident your income will be sustainable throughout your retirement years? If not, why not? Maybe now is the time to have an Income Review Analysis done on your portfolio. You are welcome to give our office a call (775) 853-9033 and speak to one of our retirement planning specialists.